Animesh Das
Documents needed for ”2 out of 5 years” home sales tax exclusion
Hello,
I sold my condo last week. I lived in that condo from 2012-2017. So I satisfy the “2 out of 5 years” rule that allows the home sales profit from capital gains tax exclusion.
I was wondering what documents do ...
Sawyer Scott
0% out of pocket with hard money loan & commercial bank loan
I am currently looking into purchasing an apartment complex. I would like to utilize creative finance to create a 0% out of pocket solution when purchasing. For those of you with more experience in commercial real est...
Abe Alam
Sell before the "2 out of 5 years" tax free window expires?
Hi folks, looking for some advice here...I have a rental property that is in a high demand neighborhood. Its a 4/3 home that has 175K mortgage on it and is worth roughly 310-325k now, but could need some renovations (...
John Emmerich
Capital gains tax selling rental beyond 2 out of 5 years rule
Hello! Hoping to get some information regarding selling a rental that was formally my primary residence. For context for the question here is some info:
- Purchased the house in June 2015 for $199K...
Peter J Donaldson
Yet another 2 out of 5 year Primary/Rental Ratio question (sorry)
Ok, I have read all the IRS publications and seen many forum answers on this basic subject and I THINK I now have an answer from IRS publication 523 but would like confirmation if possible as I think I have a quite ra...
Zach Johnson
Selling a SFH Househack and the 2-Out-Of-5 Year Rule
Greetings all,As you know, the 2-Out-Of-5 year rule says: you must have lived in your home for a minimum of two out of the last five years before the date of sale in order to take an exclusion from capital gains upon ...
Alan Faitel
the rule about 2 out of the last 5 years rule? IRS
My accountant is worried about my home being sold some day, and the rule about 2 out of the last 5 years rule?
I'm looking for some help with the IRS rule 262 Or Publication 523.
I've owned my principal residence ...
Freddy Alban
How I Closed a $0 Out-of-Pocket Deal with Big Returns
Investment Info:
Single-family residence fix & flip investment.
Purchase price: $242,500
Sale price: $430,000
I used private lending to cover the down payment and closing costs, then paired it wi...
Jonathan Halliday
Absentee Owners
Hello, good day. I was searching the forums to a answer to this question I have. Didn't have any luck. The question though is where do you find absentee owners because I believe that's why they call them ...
Marc Dube
Advice on a short sale deal, please
I looked at a property near my home which is in foreclosure and the bank will entertain a short sale. Borrower owes 220k but is listed at 169k. The house needs work, roughly 30k. In this market it may sell for 219k to...